FIRST ON FOX: The CEO of Nucor Corp., the largest steel company in the U.S., supports President Donald Trump’s new tariffs on China, Canada, and Mexico. Fox News Digital has learned this.
Leon J. Topalian, the CEO of Nucor, said, “Nucor is happy with the actions of President Trump. We want to help enforce trade laws and improve American manufacturing!”
Nucor is in North Carolina. It is the biggest steel producer and recycler in the country.
Topalian spoke with CNBC about the tariffs. He said they will help stop unfair trade and ensure fair prices for U.S. steel.
Trump signed an executive order to start these tariffs. They include a 25% tax on steel from Canada and Mexico and a 10% tax on steel from China. This will begin on Tuesday.
Trump said Canada has taken advantage of the U.S. for many years. He believes the tariffs will help protect American workers and businesses.
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Vocabulary List:
- tariffs /ˈtær.ɪfs/ (noun): Taxes imposed by a government on imported goods.
- enforce /ɪnˈfɔːrs/ (verb): To compel observance of or obedience to a law rule or obligation.
- unfair /ʌnˈfɛər/ (adjective): Not based on or behaving according to the principles of equality and justice.
- recycler /riˈsaɪ.klər/ (noun): A person or machine that processes materials to make them reusable.
- protect /prəˈtɛkt/ (verb): To keep safe from harm or injury.
- advantage /ədˈvæn.tɪdʒ/ (noun): A condition or circumstance that puts one in a favorable or superior position.
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